Introduction to Brighter Trade Review:
If you have reached this page, you have probably heard almost everything about scams and scam brokers of the financial market. In an attempt to get most of what is possible, these scam brokers will try to get you into depositing as much as you can in the first few deposits. Upon receiving the desired amount, they will simply block your account or leave without a trace. As scam brokers are unregulated, it is not easy to fight back for the money as well. Do you want to know about ways to avoid a scam broker? Read our detailed review on Brighter Trade and find out.
Upon a little investigation, we found out that Brighter Trade is the trading name of Ingoten OU. The company is based in Estonia,
About the company:
Brighter Trade is a forex brokerage firm that offers services in a variety of tradable instruments to customers around the world. It offers trade in currencies, stocks, indices, crypto among others. With a withdrawal fee of $10, which is much higher than the industry average, Brighter Trade claims to provide the best deals in the market. Read on to know more about the problematic aspects that Brighter Trade has managed to hide very carefully.
Breaking down the claims:
Does Brighter Trade have a license?
No, Brighter Trade is UNREGULATED. As mentioned above, Brighter Trade is based out of Estonia. We were unable to find any registration or license in the name of Brighter Trade. Readers must note that your money is never safe with a brokerage firm that does not have a license from any of the regulations. Not having a license means that the brokerage firm is not under supervision thereby proving as a risk. You must never invest your money with an unregulated broker.
Is Brighter Trade blacklisted/warned?
Yes, Brighter Trade has been blacklisted and warned by not one but three of the top-tier regulations from around the world.
The Financial Conduct Authority or the FCA of the UK has stated that Brighter Trade is an unauthorized firm. The regulation warns the citizens from trading with Brighter Trade.
The Australian Securities and Investment Commission or the ASIC of Australia has blacklisted Brighter Trade and also warned its citizens from trading with this unauthorized firm.
Lastly, the Financial Markets Authority or the FMA of New Zealand has also issued a warning against Brighter Trade for their activities.
What is the minimum deposit demanded by Brighter Trade?
Minimum deposits are not usually charged in high amounts by reliable brokers as the regulations advise against this. However, the scam brokers demand a high minimum deposit in order to steal a greater amount of money from their customers. In our case, Brighter Trade demands a minimum deposit of $250 from their customers which is a huge amount. This poses yet another red flag in this Brighter Trade review.
Conclusion: Is the Brighter Trade scam real?
To conclude, we can safely say that Brighter Trade is a potential scam. We request our readers to stay away from this unauthorized firm and do not risk losing their money. If you are a scam victim of Brighter Trade, report a complaint with us and get help immediately.
Read our latest review on IronTradeFx.
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